Hello everyone,
As you can see, i usually don't analyse a short period i prefer to look for the big picture. XLM and many other ALTS have almost the same structure, market cycles mean no bear market nor bull market will last for ever.
i will summarize the important points i relay on:
*Major and minor ABC 12345 waves was formed which means bear market is over based on Elliot Waves Theory
* XLM touched the major historical trend line coinciding with the end of wave 5 then retrace which gives us a great evidence we will start new waves formations to the upside
* XLM is not anymore making Lower lows and Lower Highs
* we have cup and handle on the daily chart (which means XLM is preparing to breakout the bear market channel
* XLM broke out 9,50,100,200 MAs and is trading above all of them and that is very strong sign of a start of bull market
* most indicators are bullish
this is only my opinion and not a trading advice
please don't forget to like and comment to motivate me to continue
thanks!
As you can see, i usually don't analyse a short period i prefer to look for the big picture. XLM and many other ALTS have almost the same structure, market cycles mean no bear market nor bull market will last for ever.
i will summarize the important points i relay on:
*Major and minor ABC 12345 waves was formed which means bear market is over based on Elliot Waves Theory
* XLM touched the major historical trend line coinciding with the end of wave 5 then retrace which gives us a great evidence we will start new waves formations to the upside
* XLM is not anymore making Lower lows and Lower Highs
* we have cup and handle on the daily chart (which means XLM is preparing to breakout the bear market channel
* XLM broke out 9,50,100,200 MAs and is trading above all of them and that is very strong sign of a start of bull market
* most indicators are bullish
this is only my opinion and not a trading advice
please don't forget to like and comment to motivate me to continue
thanks!
Note
XLM broke out the cup and handle neckline
fisrt short term target: 0.087USD
which means XLM will breakout the historical bear market channel
lets watch and i will update later :)
Note
moon is your limit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.